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Adjusting to New Mandates for Maximum Productivity

ADJUSTING TO NEW MANDATES FOR MAXIMUM PRODUCTIVITY THE SWITCH TO ICD-10 55,000 MORE CODES THAN ICD-9 o A total of 141,000 codes o Longer codes for more exact clinical documentation AVERAGE COST IMPACT $84,000 o Affects small and medium-sized practices the most o In one survey, only 36% of physicians were ready for ICD-1o COSTS INCREASE WITH TRAINING & PRODUCTIVITY LOSS o Coders will need 20 to 40 hours of training prior to the transition o Small practices will need as much as $2,00o for training o Small practices stand to lose as much as $20,00o during the interruption PLANNING FOR SURVIVAL o Practices will need to make sure their current EMR is compatible with the new ICD-10 o Coding may have to be outsourced to maintain productivity, another added cost o Be prepared for a 10-25% permanent loss of coding productivity EMA IMPLEMENTATION ISSUES & BENEFITS 19% of physicians consider EMR adoption their biggest IT problem 73% of EMR implementations fail FAILURE IS CAUSED BY: IMPLEMENTATION STYLE If new techniques are introduced too quickly, there will not be enough time to adapt Gradual implementation is over 90% successful LACK OF USEFUL CONTENT • Look for an EMR specifically designed for your specialty • Specialty EMRS increase speed and accuracy from the beginning COST EMR solutions can be quite costly, with many requiring full payment up front Find an EMR with a subscription-based structure to ensure you get the proper training and support for successful implementation WHEN EMA SUCCEEDS: ROI 64% of physicians 67% save time through have faster and more e-prescribing and experience improvement of communication and care coordination capabilities 67% see a return on investment accurate billing PROVIDED BY: capson Physiiansurance WWW.CAPSONMEDICALMALPRACTICEINSURANCE.COM SOURCES: http://www.streamlinemd.com/Data/Sites/58/assets/StreamlineMD WhitePaper 1B.pdf http://www.acep.org/Content.aspx?id-84378 http://www.slideshare.net/angomark/is-icd-10-proving-to-be-too-expensive-for-small-practices http://www.cdc.gov/nchs/icd/icdiocm.htm http://www.physicianspractice.com/blog/avoid-medical-practice-productivity-loss-due-icd-10 http://www.multibriefs.com/briefs/ICD-10WhitePaper.pdf http://www.gatewayedi.com/icdio/2012/03/22/icd-10-delay-7-things-you-should-do-with-the-extra-time/ http://www.physicianspractice.com/technology-survey/2013-technology-survey-results

Adjusting to New Mandates for Maximum Productivity

shared by BrittSE on Nov 02
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19% of physicians consider EMR adoption their biggest IT problem and 73% of EMR integrations fail. Find out what causes failure and learn about successful EMR integration by reading through this medic...

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